AI Financial Services LLC cut its holdings in SYSCO Co. (NYSE:SYY) by 31.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,111 shares of the company’s stock after selling 16,306 shares during the quarter. SYSCO makes up 6.4% of AI Financial Services LLC’s holdings, making the stock its 2nd biggest holding. AI Financial Services LLC’s holdings in SYSCO were worth $2,572,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Blue Chip Partners Inc. acquired a new stake in SYSCO in the second quarter valued at about $104,000. Quad Cities Investment Group LLC acquired a new stake in SYSCO in the second quarter valued at about $111,000. Flagship Harbor Advisors LLC acquired a new stake in SYSCO in the second quarter valued at about $121,000. Daiwa SB Investments Ltd. acquired a new stake in SYSCO in the third quarter valued at about $132,000. Finally, Fort L.P. acquired a new stake in SYSCO in the second quarter valued at about $123,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $68.62, for a total transaction of $343,100.00. Following the completion of the transaction, the director now directly owns 56,393 shares in the company, valued at $3,869,687.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joshua D. Frank sold 1,013,666 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $75.09, for a total value of $76,116,179.94. Following the transaction, the director now owns 4,005 shares of the company’s stock, valued at $300,735.45. The disclosure for this sale can be found here. Insiders sold 3,969,811 shares of company stock valued at $297,370,093 over the last quarter. Corporate insiders own 7.88% of the company’s stock.
SYSCO stock opened at $66.56 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.30 and a debt-to-equity ratio of 3.00. The stock has a market capitalization of $33.56 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 1.77 and a beta of 0.56. SYSCO Co. has a 12 month low of $53.49 and a 12 month high of $75.98.
SYSCO (NYSE:SYY) last posted its earnings results on Monday, November 5th. The company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). The firm had revenue of $15.22 billion during the quarter, compared to the consensus estimate of $15.39 billion. SYSCO had a net margin of 2.52% and a return on equity of 68.81%. SYSCO’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. On average, research analysts anticipate that SYSCO Co. will post 3.43 EPS for the current year.
Several analysts recently weighed in on the company. Royal Bank of Canada reduced their price objective on SYSCO from $67.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Morgan Stanley dropped their target price on SYSCO from $71.00 to $69.00 and set a “hold” rating for the company in a research report on Tuesday. Credit Suisse Group dropped their target price on SYSCO from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday. BMO Capital Markets dropped their target price on SYSCO from $81.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Loop Capital dropped their target price on SYSCO to $75.00 and set a “buy” rating for the company in a research report on Tuesday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. SYSCO has an average rating of “Hold” and a consensus target price of $73.15.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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